Nigeria increased this year’s budget deficit forecast by 36 percent after oil prices fell below the $38 per barrel benchmark set by Africa’s top producer.
The gap will increase to 3 trillion naira ($15.1 billion), or 3 percent of gross domestic product, from the record deficit of 2.2 trillion naira set out by President Muhammadu Buhari last month, Finance Minister Kemi Adeosun said in an e-mailed statement on Thursday.
